Page 4 - PowerPoint Presentation

PRESENTATION OF FINANCIAL STATEMENTS

Overview

• IAS 1 refers to general-purpose financial statements.

Financial statements prepared in terms of this accounting

standard form the basis or starting point for the preparation

of financial statements.

• If another accounting standard requires additional disclosure this is
in addition to that required by IAS 1.

• IAS 1 does not apply to the preparation of condensed

interim financial statements, but it does apply equally to the

financial statements of individual entities and the

preparation of group financial statements.

• It is the responsibility of the board of directors or

management of an entity to prepare and present the

financial statements.

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